Impax Adding Several Branded, Generic Products in $700 Million Deal

Impax Laboratories Inc. on Thursday said it agreed to buy private pharmaceutical companies Tower Holdings Inc. and Lineage Therapeutics Inc. for $700 million in cash.

Impax, of Hayward, Calif., said the deal will add several branded and generic products to its line of drugs, including the tapeworm treatment Albenza and an epinephrine auto-injector product. The portfolio being acquired is expected to generate about $215 million to $225 million in revenue this year.